NexGen Energy is progressing construction at its Rook I uranium project in Saskatchewan, Canada, with preparations under way to ship the freeze plant ahead of planned shaft sinking in 2027.
The freeze plant will help stabilise water-bearing ground during mine shaft construction, supporting the development of the underground mine. The project is designed to produce up to 30 million pounds of uranium annually once operational.
The development comes amid continued investment across the nuclear fuel supply chain, as countries seek to secure uranium supplies and support nuclear power generation. Uranium mining, processing and enrichment all play a role in providing fuel for nuclear reactors.
For NexGen, the priority is to advance construction and meet the project’s development milestones. Progress towards shaft sinking will be a key step as the company works towards bringing Rook I into production.
Geiger Counter Limited (LON:GCL) is a Jersey closed-end investment company, which invests in uranium exploration and production stocks.
